Fearnleys Weekly - Dry bulk

Chartering - Supramax

There has been quite some activity in the Atlantic basin this week, rates out of USG are still firm, trips to Emed gone through at low/mid USD 20.000. There was also done some period activcity, 4-6mos was done at high USD 15.000 redly Atlantic. Black sea have also seen a bit more activity but little concluded, fronhaul getting fixed ard USD 17k. In the Pacific Nickel ore fixing via Phils to China at USD 8000. Clinker to China at mid USD 10000, trips from China to India fixing at mid USD 8000.

Chartering - Panamax

It has been an active week in the Panamax market. After a period with decreasing rates and low activity the sentiment has changed significantly and the market is very strong in both hemispheres, but especially within the Atlantic region. Less tonnage and more cargoes in the north Atlantic has pushed the rates upwards and the TA market is priced at 15k’s right now, while FH are being fixed in the 19 to 21k’s depending on duration. The activity out of the US Gulf has been a key feature to keep the momentum. More activity in the Pacific has pushed the rates for a transpacific RV to ard 11k’s. A booming cape market has led to cape splits both in the Atlantic and Pacific which is a positive factor going forward.

Chartering - Capesize

The freight market for Capesize vessels continues up in line with firming iron ore prices. Most of the activity and the market benchmark is the west Australia to China route, where the Australian miners are again in need of spot tonnage. Weather delays in part of China have created delays for vessels heading for West Australia. Freight levels hit the USD 10 pmt mark, before stabilizing in the high USD 9's. Brazil to China route also firm, though with more sporadic fixing, levels hovering just above the USD 20 pmt mark. The timecharter market in the Pacific is now estimated at USD 28,000. Despite entering December month, so far no sign of the usual pre-Christmas slowdown.